Spark USDC Vault (sparkUSDC) stablecoin analytics
Answer First
What is Spark USDC Vault (sparkUSDC)?
sparkUSDC is Spark's Morpho USDC lending-vault share, redeemable at its accruing asset NAV subject to market liquidity. The static profile records its USDC-denominated NAV accounting mechanism as: Deposit USDC to mint ERC-4626 lending-vault shares. Accrued lending interest increases USDC per share; redemption burns shares and withdraws available underlying liquidity from Morpho positions.
Is sparkUSDC safe?
Pharos does not mark sparkUSDC as absolutely safe. Static metadata says Spark USDC Vault uses a CeFi-Dependent governance model and Crypto-Collateralized backing, with live reserve feed configured; the main caveat is that freeze exposure is inherited through upstream collateral, custody, or wrapper dependencies. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
Static Profile
Static stablecoin profile
Spark USDC Vault (sparkUSDC) static profile: governance model CeFi-Dependent; backing model Crypto-Collateralized; peg USDC-denominated NAV.
Variant Relationship
Spark USDC Vault (sparkUSDC) is modeled as a strategy vault variant of USD Coin (USDC). Pharos treats parent stress, redemption, mint authority, and dependency context as relevant to this variant before interpreting its own live metrics.
AI summary / Updated Oct 2, 2026
Spark USDC Vault earns lending interest on Base through a Morpho vault curated by Spark. Its current supplied book is concentrated in a cbBTC-collateralized market, while the share remains denominated and redeemable in USDC. An increasing ERC-4626 exchange rate tracks the lender claim, but it does not establish a segregated fiat entitlement or eliminate borrower and liquidation risk. Withdrawals depend on available market liquidity, and a small executable redemption does not prove a full-supply exit under stress.
- Collateral
- USDC-denominated Morpho lending claims on Base, concentrated in a cbBTC-collateralized market; the lender vault does not directly hold the borrowers' cbBTC collateral.
- Peg Mechanism
- Deposit USDC to mint ERC-4626 lending-vault shares. Accrued lending interest increases USDC per share; redemption burns shares and withdraws available underlying liquidity from Morpho positions. Borrower defaults, collateral liquidation and vault fees affect share value.
- Jurisdiction
- Not disclosed in the static profile.
- Proof Of Reserves
- No proof-of-reserves entry in the static profile.
- Contracts
- 1 deployment tracked across Base.
Next Actions
Exact bot target: /subscribe dews,depeg,safety sparkusdc-spark
Source: checked-in StablecoinMeta profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier below; the summary above was last updated Oct 2, 2026.
sparkUSDC quick answers
What is Spark USDC Vault (sparkUSDC)?
sparkUSDC is Spark's Morpho USDC lending-vault share, redeemable at its accruing asset NAV subject to market liquidity. The static profile records its USDC-denominated NAV accounting mechanism as: Deposit USDC to mint ERC-4626 lending-vault shares. Accrued lending interest increases USDC per share; redemption burns shares and withdraws available underlying liquidity from Morpho positions.
Is sparkUSDC safe?
Pharos does not mark sparkUSDC as absolutely safe. Static metadata says Spark USDC Vault uses a CeFi-Dependent governance model and Crypto-Collateralized backing, with live reserve feed configured; the main caveat is that freeze exposure is inherited through upstream collateral, custody, or wrapper dependencies. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
What backs sparkUSDC?
Pharos classifies sparkUSDC backing as Crypto-Collateralized. Collateral, per the static profile: USDC-denominated Morpho lending claims on Base, concentrated in a cbBTC-collateralized market; the lender vault does not directly hold the borrowers' cbBTC collateral. Reserve evidence: live reserve feed configured.
Can sparkUSDC be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, freeze exposure is inherited through upstream collateral, custody, or wrapper dependencies. Live freeze and blacklist events for sparkUSDC, when applicable, appear in the dossier below.
